v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 260,843 $ 173,959
Short-term investments 1,476,335 1,387,000
Prepaid expenses and other current assets 76,310 66,402
Total current assets 1,813,488 1,627,361
Property and equipment, net 260,695 257,370
Operating lease right-of-use assets 113,103 116,009
Long-term investments 1,004,017 881,664
Restricted cash 1,466 1,466
Other assets 155,539 118,847
Total noncurrent assets 1,534,820 1,375,356
Total assets 3,348,308 3,002,717
Current liabilities:    
Accounts payable 63,060 70,904
Accrued compensation 7,986 23,000
Accrued contract manufacturing expenses 134,704 74,654
Accrued expenses 30,247 31,068
Operating lease liabilities — current 6,085 6,124
Total current liabilities 242,082 205,750
Operating lease liabilities — long-term 110,212 111,457
Total liabilities 352,294 317,207
Commitments and contingencies (Note 6)
Stockholders' Equity    
Preferred stock, $0.001 par value — 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value — 500,000,000 shares authorized at March 31, 2026 and December 31, 2025; 144,314,981 and 131,058,858 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 147 134
Additional paid-in capital 5,478,270 4,838,736
Accumulated other comprehensive loss (6,834) 1,587
Accumulated deficit (2,475,569) (2,154,947)
Total stockholders' equity 2,996,014 2,685,510
Total liabilities and stockholders' equity $ 3,348,308 $ 3,002,717